transparency

Abilene Firemen's Relief & Retirement Fund

Overview

Contact Information:
102 Cedar St.
Suite 100
Abilene, TX 79601
http://www.abilenefirepension.com
Phone: (325) 665-8447
Fax: (325) 676-6285

Classification: TLFFRA
Year Created:
Fiscal Year-End Month: 9

Total Members : 390

  Active Members: 192
  Inactive Members : 0
  Total Annuitants: 192
  (Effective Date: 10/1/2021)

Financials

(Effective Date: 9/30/2021)

Total Net Assets: $64,973,482

Total Assets : $64,974,508
Total Liabilities : $1,026
Total Additions : $17,064,004
Employer Contributions:
$3,414,114
20.01%
Employee Contributions:
$2,442,115
14.31%
Other Contributions:
$0
0.00%
Investment Income:
$11,207,775
65.68%
Other Income:
$0
0.00%

Total Deductions  : $8,483,960
Benefit Payments:
Benefit Tier Details
$0
0.00%
Withdrawals:
$8,182,891
96.45%
Administrative Expenses:
$90,196
1.06%
Investment Expenses:
$210,873
2.49%
Other Expenses:
$0
0.00%
Total Contribution Rate: 21.25%
(Effective Date: 10/1/2021)
Employer: 15.20%
Employee: 36.45%

Historical Investment Returns

(Report Date: 9/30/2021)
—  Assumed Rate of Return 7.50%
  • 1-Year Return: 19.80%
  • 3-Year Return: 9.19%
  • 10-Year Return: 8.04%
  • 30-Year Return: N/A
  • Note: Rates of return are reported net of fees.
  • Investment Policy Details
  • Assumed Rate of Return : 7.50%

Actuarial

(Effective Date: 10/1/2021)
Actuarial Value of Assets : $64,944,840
Actuaries often select an asset valuation method that smooth the effects of short‐term volatility in the market value of assets. The actuarial value of assets is intended to give fund managers a more accurate picture of the fund’s ability to cover its liabilities.
Market Value of Assets: $61,480,455
Actuarial Assumption Details

Actuarial Funded Ratio : 49.38%

Market Funded Ratio: 52.16%

Amortization Period (Yrs) : 29.4
Unfunded Liability : $63,021,397
Unfunded Liability per Member: $161,593

Benefit Tier Details

Tier:
Tier 1
Eligible Members:
Hired on/before 2/1/2019
Vesting:
20 YCS
Age/YCS:
50/20
Benefit Formula:
Years of Credited Service x 3% x Final Average Salary + YCS x 3% for YCS btwn 20 and 21.5 + $80 per month for YCS > 21.5
Final Average Salary:
Highest 36 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions credited, no interest or COLA.
Social Security:
No
Tier:
Tier 2
Eligible Members:
Hired after 2/1/2019
Vesting:
20 YCS
Age/YCS:
53/20
Benefit Formula:
Years of Credited Service x 2.75% x Final Average Salary + $80 per month for YCS > 20
Final Average Salary:
Highest 60 months
Automatic COLA:
None
Benefit Tier Options:
Retro DROP, 3 yr. max. Employee contributions credited, no interest or COLA.
Social Security:
No

Investment Policy Details

Effective Date: 10/30/2019

Asset Class:
Real Estate
Minimum Allocation:
0%
Maximum Allocation:
25%
Target Allocation:
15%
Asset Class:
Fixed Income
Minimum Allocation:
15%
Maximum Allocation:
30%
Target Allocation:
20%
Asset Class:
Equities
Minimum Allocation:
45%
Maximum Allocation:
65%
Target Allocation:
55%
Asset Class:
Cash
Minimum Allocation:
0%
Maximum Allocation:
5%
Target Allocation:
0%
Asset Class:
Securities Lending Coll
Minimum Allocation:
0%
Maximum Allocation:
0%
Target Allocation:
0%
Asset Class:
Alternative Investments
Minimum Allocation:
0%
Maximum Allocation:
20%
Target Allocation:
10%